Refer to the information provided in Figure 4.4 below to answer the question(s) that follow. Figure 4.4
-Refer to Figure 4.4. At the world price of ________ per barrel of oil, the United States imports 6 million barrels of oil per day.
A) $100
B) $125
C) $150
D) $150

Question

Refer to the information provided in Figure 4.4 below to answer the question(s) that follow.  Figure 4.4
-Refer to Figure 4.4. At the world price of ________ per barrel of oil, the United States imports 6 million barrels of oil per day.
A) $100 
B) $125 
C) $150 
D) >$150

Quizplus · Accepted Answer

At the world price of $125 per barrel of oil, the United States would import 6 million barrels of oil per day because this price level is where the quantity demanded by the U.S. exceeds the quantity supplied domestically by 6 million barrels, necessitating imports to meet the demand.

Refer to the Information Provided in Figure 4